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Is yiur elder still pretty able to go to the bank and cash a check or make a deposit on their own if you were to drive them over? I ask as often even with dementia they are still able to continue to do things that they are used to doing routinely and have done for years and maybe even have a favorite teller or two AND are comfortable at the bank or a particular branch. If that sounds like your mom / dad, I bet you can get them prepped enough to get the account done to be POD if…. And this is important…. If the POD is already a signature on the account or has themselves accounts at this same bank. Having your own account that just helps with accountability IMO and it makes it easier to do the pod as it just goes into your acct after death.

To do the POd, they will need to speak with a bank officer on their own, as bank officer will ask them a few straightforward questions… like “you want to do this and are doing this on your own, is that right Mrs. Smith?”, and they will need to present and hand them their ID or DL and sign the forms. If they can do this, then IMO your good. If it’s in a bank officers actual office, you will NOT be able to be with them if you are the one to get the POD. This will be a must by the bank as it cannot appear you influence them. Comprende?

If it’s yiur mom, have them go to the beauty shoppe day before so they look their best and take them to a scheduled appointment at the bank at the time of day they are their perkiest. You can go over Q & As with them ahead of time too.

But if they are not actually in our solar system for cognition, it’s too late to do a POD IMO. Good luck
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Yes, when someone is first diagnosed the disease is in the early stages usually and they can understand in the moment what they are signing. Keep in mind it is not necessarily gifting an account to someone, it is giving that person access to funds for last expenses, medical, burial, attorney, etc.
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If the account holder can understand what they are doing, yes.
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Possibly. It all depends on what the dementia symptoms are. If the diagnosis is in the very early stages of AD, and the person understands what is being done, they may very well be able to add POD to their accounts. POD may not require the person to have the same cognitive competency as a POA would require. Many people who are in the early stages of AD go on to live a productive life for years. If the person has access to their account profile (where beneficiaries are shown) on the internet, POD might be able to be added from home.
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No. Do you mean POA, Power of Attorney. As a POA I think you can get to the principles bank accts without being on them. Ask their bank.
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Isthisrealyreal Aug 2021
POD is payable on death.

It is a great way to give that account to a beneficiary.
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